We are talking about publicly held American insurance company The Allstate Corporation which is known for providing banking services, retirement and investment products, and insurance policies from home, auto and life to off-road and business.
The company has generated net income of US$2.104 billion and the revenue of US$39.815 billion in the financial year 2018. In 2018, it was also considered among the Fortune 500 list of largest United States corporations at rank 79.
When it got started?
The company came in the year 1925 as a tire brand under the parent organization Sears. With initial success, Chairman General Robert E. Wood decided to introduce the company in the insurance market on the advice of broker Carl L. Odell. This proposal was finalized by boards of director and company came operational on 17th April 1931.
At the start they planned to offer auto insurance by direct mail with Sears catalog and built headquarter at Northbrook, Illinois in 1967 dealing with additional types of insurance. In 1995, the company became independent
finally launching out their website in the following year.
They acquired various insurance hubs like CNA Financial, Esurance and SquareTrade to expand their business.
What did they offer in market?
In market, they offer products to customers under three divisions including; financial products which deal with life insurance, retirement and asset management, next is wealth transfer which deals with estate planning products, fixed life survivorship, term life, and supplementary health, last one is insurance products that deals with home, auto, business, boat, property, off-road vehicle, personal and loan protection with many more other options.
At present, they are operating with 18 companies all across the United States and in Canada and India with 113 million proprietary policies.
Why are they so popular?
The company is active to protect people from life’s uncertainties by working well on the core value and strategy of the organization. They are ready to offer protection products on broad array through distribution channels and multiple brands by its subsidiaries like Esurance, Encompass, SquareTrade and Answer Financial brands.
They have a massive reach that makes them a good choice for consumers who want an accessible one-stop company. Allstate has a website, mobile app and digital locker app on extra feature side that makes your day in just single click.
Even the rating for customer satisfaction is great as Allstate had fewer complaints to state regulators in 2018 relative to its size for auto, home, and life insurance, according to the National Association of Insurance Commissioners.